Monolithic Power Systems Announces Results for the First Quarter Ended March 31, 2024


SUPPLEMENTAL FINANCIAL INFORMATION
STOCK-BASED COMPENSATION EXPENSE
(Unaudited, in thousands)
 
  Three Months Ended March 31, 
  2024   2023 
Cost of revenue$1,398  $1,147 
Research and development 10,447   8,614 
Selling, general and administrative 34,081   27,248 
Total stock-based compensation expense$45,926  $37,009 
        


RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME
(Unaudited, in thousands, except per share amounts)
 
  Three Months Ended March 31, 
  2024   2023 
Net income$92,541  $109,802 
        
Adjustments to reconcile net income to non-GAAP net income:       
Stock-based compensation and related expenses* 51,769   37,009 
Amortization of acquisition-related intangible assets 291       33  
Deferred compensation plan expense, net   47       251  
Tax effect   (7,156 )     (1,087 )
Non-GAAP net income $ 137,492     $ 146,008  
               
Non-GAAP net income per share:              
Basic $ 2.83     $ 3.09  
Diluted $ 2.81     $ 3.00  
               
Shares used in the calculation of non-GAAP net income per share:              
Basic   48,635       47,234  
Diluted   48,928       48,655  
               

*Prior period excludes stock-based compensation related employer payroll taxes from non-GAAP measures due to immateriality.

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